MICHEL MARTIN, HOST:
Now to Joe Biden's farewell speech from the Oval Office last night, his final goodbye after 50 years in public office. The president spoke about his legacy but also had a warning for the nation. NPR White House correspondent Asma Khalid was watching, and she's with us now to tell us more about it. Good morning, Asma.
ASMA KHALID, BYLINE: Good morning, Michel.
MARTIN: So let's start with this warning. What did the president say concerns him so deeply?
KHALID: Biden said he's gravely concerned about what he sees as a concentration of power in the hands of a few ultra-wealthy people, and he warned that there could be dangerous consequences if that power is left unchecked.
(SOUNDBITE OF SPEECH)
PRESIDENT JOE BIDEN: Today, oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy.
KHALID: And Michel, I'm sure you noticed that word, oligarchy. I mean, it is an incredibly strong term to use. This is the first time that he's used it in an American context. When I've heard him reference that word before, it's usually been about, you know, corruption in Russia, Ukraine. But Biden said he's worried about powerful forces rolling back his climate measures, for example, for their own interest, referencing there to that concentration of wealth and power.
MARTIN: You know, it's worth pointing out that one of Trump's closest advisers has become Elon Musk, a tech entrepreneur. He's currently the wealthiest man in the world, and it's noted that a number of these tech billionaires will have places of honor at his inauguration on Monday. Did Biden name any of these ultrarich people that he says he's worried about?
KHALID: No, he did not. He did single out the tech industry, saying he's concerned about the potential rise of a, quote, "tech industrial complex." Last week, Mark Zuckerberg, the CEO of Meta, which is the parent company of Facebook and Instagram, announced it's ending its fact-checking operation. And last night in his speech, Biden called out that idea.
(SOUNDBITE OF SPEECH)
BIDEN: Social media's giving up on fact-checking. The truth is smothered by lies told for power and for profit. We must hold the social platform accountable.
KHALID: And Biden said he's worried about misinformation. The concentration of power, technology and wealth, he thinks, could lead to more division amongst Americans. But Michel, I also want to point out that to me, as someone who has covered Biden's 2020 presidential campaign and then, you know, four years of his administration, it was genuinely surprising to hear this - this idea of an oligarchy - as his primary warning to the American public on his way out the door. You know, in the past, he has spoken about the dangers he sees from Donald Trump. He has singled him out as a threat to democracy, authoritarianism. He said in 2020 that he ran to save the soul of the nation. But we didn't hear a whole lot of that last night. He didn't once call out the president-elect by name.
MARTIN: Interesting. Did he talk about his successor at all, perhaps indirectly?
KHALID: You know, he began his remarks with news of the ceasefire and hostage deal in Gaza. That's something that the president-elect, Donald Trump, is trying to take credit for. Biden made sure to say that it was his own plan, even though he did acknowledge it'll largely be implemented by the incoming administration.
You know, but to the point about the warning bells he had previously rung about Trump, those were more subtle. He said at one point that the Constitution needs to be amended to make it clear that no president is immune from crimes they commit in office, and he spoke about the courage to stand up to the abuse of power. He spoke a lot about his idea of America - an America that respects institutions. But broadly, he said he wishes the incoming administration success because he wants America to succeed.
MARTIN: Look, it's a tough time for Democrats. The president's approval - President Biden's approval rating is underwater. Democrats lost the November election. They lost control of both the House and the Senate. I was curious about how Biden tried to frame his legacy.
KHALID: Yeah, he spoke at length about some of the legislation he's passed.
(SOUNDBITE OF SPEECH)
BIDEN: It will take time to feel the full impact of all we've done together. But the seeds are planted, and they'll grow and they'll bloom for decades to come.
KHALID: You know, Biden spearheaded major investments in things like semiconductors, clean energy and infrastructure. But it will take years for that to be felt, and Biden personally may never see the political benefit of those investments.
MARTIN: That is NPR's Asma Khalid. Asma, thank you.
KHALID: My pleasure.
(SOUNDBITE OF VINCENT RAYN'S "AURA") Transcript provided by NPR, Copyright NPR.
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